Opinion: To Trust or Not To Trust Alibaba?

Business World Columnist Holman Jenkins Jr. on the risks involved in one of the biggest IPOs of all time. Photo: Associated Press

This transcript has been automatically generated and may not be 100% accurate.

... I ... the and the green as the league debut on the Newark Stock Exchange of Chinese Internet company Alibaba ... which saw a big pop in trading in these first hours of life on the NYSE business World Columnist Dominicans Junior joins me now to ... talk about this debut home and very exciting scenes on the floor this morning is this a big success ... sure does ... they've managed to open the stock and it went up it was like Facebook when ... there was no one out there who bought the stock when they opened ... their doors ... you know there are lots of buyers today and at what price ... the Massey's successfully around and this is one of the most hopeful moments and ... aluminum company ... and fines ... global investors among the general investing public and a one off very nicely in the whole Obama in capitalism but it seems news ... here in New York home and ... auction that give us some sort of confidence the U S markets are still that ... the center of the world so to speak for the capital markets ... absolutely it shows that the Western model of globalization and ... in corporate governance Dover could still pass the bill it's that it's really the true path to a transparency and accountability ... and trust and therefore the ability to assemble the kinds of capital and talent technology it takes to take on global markets so I you know the system still works in China was the market ... the price of honest creates trading a little over ninety not up to one hundred hrs some investors were hoping it was going to go ... home and their bosses like concerns raised here about ... Alibaba is up a leadership structure about some of the risks involved particularly ... by investing in a Chinese company you share those concerns ... should lead to very convoluted sticker because of the restrictions that China ... is on foreign ownership of Chinese ads that ... basically this is the trust on you know it there's only to get much help from the courts ... you rely on the incentive the Jack Ma on his management he wanted to its stock price one hundred ... global investors ... they want the stock to the ... currency to make acquisitions in one to motivate their troops with stock options that one of the art world so that you know you're lying on their is to make this a success ... but cannot rely on the Chinese legal system I guarantee it that ... so Wednesday that may be some risks down the road Business World Columnist Holman Jenkins Junior thank you very much